Thursday, January 21, 2016

Sub-anchor: Trade between China and Egypt  01-21-2016

China has become Egypt's largest trading partner. Bilateral trade has reached US$11 billion in 2014, up 14 percent from the previous year.
But Egypt still suffers from sharp trade deficits, as Chinese exports to Egypt are worth 10.5 billion dollars, while Egypt's exports to China stand at half a billion dollars.
The New Suez Canal was finished last July, with total costs of 8.2 billion dollars. The canal adds a new channel to allow ships to move in both directions simultaneously and expanded an existing sector.
In April 2015, Egypt officially became a founding member of the Asian Infrastructure Investment bank. China and Egypt are expecting to deepen cooperation in fields of media, infrastructure projects and transportation projects.


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